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Elko County Fire District reports no debt, adopts annual debt-management update
Summary
Finance staff told the board the Fire Protection District has no debt, updated its debt-management plan and capital improvement plan to current assessed valuations, and approved the reports required by state law.
Elko County finance staff presented the annual update to the Fire Protection District’s Debt Management Plan, indebtedness report and capital improvement plan July 2 and the board approved the documents as presented.
Susan (staff) said the district currently has no debt and no plans to incur debt at this time; the debt management plan was updated to reflect the latest assessed valuation and debt-limit percentages. The agenda discussion included a stated statutory debt limit figure of $77,904,618, which staff described as the 25% statutory limit of assessed valuation used to calculate debt capacity.
A motion to approve the debt-management policy and related reports was made and adopted by voice vote; no additional actions were requested.
